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The market for submarine cables was valued at USD 27.59 billion in 2022, and from 2023 to 2030, it is anticipated to expand at a CAGR of 6.9%.
The industry is primarily driven by rising offshore wind farm investments, rising data traffic, and expenditures made by OTT providers to meet demand. Many uses for power and communication employ submarine cables. Transmission of power to offshore wind farms and power stations, as well as links between nations and islands, all take place using underwater power cables. The need for low-power cables is being influenced by the rising need for linking the power systems of various nations. Communications between regions and nations are conducted using submarine communication cables. Submarine cables carry approximately 97% of all internet traffic globally, and as internet usage grows, so does the demand for submarine cables. The rise of the industry across the world has been fueled by the growing focus on integrating offshore renewable energy generation and greater energy security. These communication cables facilitate quicker communication and transmit a lot of data around the world.
Nearly 90% of global data traffic travels over undersea communication cables. Their entire carrying capacity is also measured in terabits per second. For OTT and communication providers like Google, Amazon, Facebook, and Microsoft, they are therefore the most valuable cable. For instance, the Japanese IT company NEC revealed intentions to construct a sizable submarine cable with four crore fibre optics for Facebook in October 2021. The submarine will have 24 fibre pairs and a maximum bandwidth of 500 mbps. Most nations have laws protecting underwater cables from dangers because they view them as an essential part of their economies. In Australia and the rest of the world, for instance, the Australian Communications and Media Authority (ACMA) has established safety zones that forbid actions that can harm the cables connecting the two countries. Additionally, it makes new submarine cable projects legal to deploy.
Due to an increase in data flow, communication cables have seen an increase in demand. In recent years, there have been increasing expenditures in underwater communication cables in regions like Europe, the Middle East, Asia Pacific, and Latin America. The major users of the submarine cables are businesses like Google, Facebook, Amazon, and Microsoft. Internationally, Google controls 10,433 miles of submarine cables, and 63,605 miles are shared by Facebook, Amazon, and Microsoft. Submarine cables are owned by Facebook by 57,709 miles, Amazon by 18,987 miles, and Microsoft by 4,104 miles. Amazon's cables connect California, Oregon, Japan, Singapore, and the Asia Pacific area from the United States.
The expansion of offshore wind farms and effective power transmission and distribution infrastructure from renewable energy sources are anticipated to drive market expansion overall. For instance, the Japanese government is building a floating wind farm 12 miles off the coast that will house 140 floating wind turbines by the year 2020. The makers are now actively involved in the installation, commissioning, upgrades, and maintenance of the underwater cables as a result of the increasing demand for these cables. For instance, Ciena Corporation improved The Europe India Gateway (EIG) underwater cable system in February 2020 to strengthen and expedite connection between companies in Europe, the Middle East, and India.
In 2022, the high voltage segment had the biggest revenue share, at about 65.5%. For the transmission and distribution of power, high voltage cables with a voltage above 33 kV are frequently utilised. Therefore, the main factors driving the high voltage cables sector of the submarine power cables market are increased investments in offshore wind power generation and increasing demand for HVDC submarine power cables. HV cables also lessen transmission losses, enabling effective power delivery. The fast-evolving HVDC power system enables the delivery of electricity from large-capacity, high-power sources to the mainland. The development of HVDC power systems is supported by a number of businesses and research institutions, including DESERTEC, the North Seas Countries Offshore Grid Initiative, CIGRE, and others.
Report Coverage
Global Submarine Cables research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Submarine Cables report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Submarine Cables competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Submarine Cables market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Submarine Cables market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Submarine Cables market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ALE International; ALE USA Inc.; SubCom, LLC; NEC Corporation; Prysmian S.p.A; Nexans; Google LLC; Amazon.com, Inc.; Microsoft; NKT A/S; ZTT
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Submarine Cables market based on the below-mentioned segments:
Global Submarine Cables Market, By Voltage
Medium Voltage
High Voltage
Extra High Voltage
Global Submarine Cables market, By Application
Submarine Power Cables
Submarine Communication Cables
Global Submarine Cables Market, By End User
Offshore Wind Power Generation
Inter country & island connection
Offshore Oil & Gas
Global Submarine Cables market, Regional Analysis
The industry is primarily driven by rising offshore wind farm investments, rising data traffic, and expenditures made by OTT providers to meet demand. Many uses for power and communication employ submarine cables. Transmission of power to offshore wind farms and power stations, as well as links between nations and islands, all take place using underwater power cables. The need for low-power cables is being influenced by the rising need for linking the power systems of various nations. Communications between regions and nations are conducted using submarine communication cables. Submarine cables carry approximately 97% of all internet traffic globally, and as internet usage grows, so does the demand for submarine cables. The rise of the industry across the world has been fueled by the growing focus on integrating offshore renewable energy generation and greater energy security. These communication cables facilitate quicker communication and transmit a lot of data around the world.
Nearly 90% of global data traffic travels over undersea communication cables. Their entire carrying capacity is also measured in terabits per second. For OTT and communication providers like Google, Amazon, Facebook, and Microsoft, they are therefore the most valuable cable. For instance, the Japanese IT company NEC revealed intentions to construct a sizable submarine cable with four crore fibre optics for Facebook in October 2021. The submarine will have 24 fibre pairs and a maximum bandwidth of 500 mbps. Most nations have laws protecting underwater cables from dangers because they view them as an essential part of their economies. In Australia and the rest of the world, for instance, the Australian Communications and Media Authority (ACMA) has established safety zones that forbid actions that can harm the cables connecting the two countries. Additionally, it makes new submarine cable projects legal to deploy.
Due to an increase in data flow, communication cables have seen an increase in demand. In recent years, there have been increasing expenditures in underwater communication cables in regions like Europe, the Middle East, Asia Pacific, and Latin America. The major users of the submarine cables are businesses like Google, Facebook, Amazon, and Microsoft. Internationally, Google controls 10,433 miles of submarine cables, and 63,605 miles are shared by Facebook, Amazon, and Microsoft. Submarine cables are owned by Facebook by 57,709 miles, Amazon by 18,987 miles, and Microsoft by 4,104 miles. Amazon's cables connect California, Oregon, Japan, Singapore, and the Asia Pacific area from the United States.
The expansion of offshore wind farms and effective power transmission and distribution infrastructure from renewable energy sources are anticipated to drive market expansion overall. For instance, the Japanese government is building a floating wind farm 12 miles off the coast that will house 140 floating wind turbines by the year 2020. The makers are now actively involved in the installation, commissioning, upgrades, and maintenance of the underwater cables as a result of the increasing demand for these cables. For instance, Ciena Corporation improved The Europe India Gateway (EIG) underwater cable system in February 2020 to strengthen and expedite connection between companies in Europe, the Middle East, and India.
In 2022, the high voltage segment had the biggest revenue share, at about 65.5%. For the transmission and distribution of power, high voltage cables with a voltage above 33 kV are frequently utilised. Therefore, the main factors driving the high voltage cables sector of the submarine power cables market are increased investments in offshore wind power generation and increasing demand for HVDC submarine power cables. HV cables also lessen transmission losses, enabling effective power delivery. The fast-evolving HVDC power system enables the delivery of electricity from large-capacity, high-power sources to the mainland. The development of HVDC power systems is supported by a number of businesses and research institutions, including DESERTEC, the North Seas Countries Offshore Grid Initiative, CIGRE, and others.
Report Coverage
Global Submarine Cables research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Submarine Cables report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Submarine Cables competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Submarine Cables market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ALE International; ALE USA Inc.; SubCom, LLC; NEC Corporation; Prysmian S.p.A; Nexans; Google LLC; Amazon.com, Inc.; Microsoft; NKT A/S; ZTT |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Submarine Cables Market from 2021 to 2030.
- Market Forecast for Submarine Cables Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Submarine Cables competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Submarine Cables
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Submarine Cables market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Submarine Cables market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ALE International; ALE USA Inc.; SubCom, LLC; NEC Corporation; Prysmian S.p.A; Nexans; Google LLC; Amazon.com, Inc.; Microsoft; NKT A/S; ZTT
Primary Target Market
- Market Players of Submarine Cables
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Submarine Cables market based on the below-mentioned segments:
Global Submarine Cables Market, By Voltage
Medium Voltage
High Voltage
Extra High Voltage
Global Submarine Cables market, By Application
Submarine Power Cables
Submarine Communication Cables
Global Submarine Cables Market, By End User
Offshore Wind Power Generation
Inter country & island connection
Offshore Oil & Gas
Global Submarine Cables market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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